Earning, saving and investing are important parts of planning a secure future. Without warning, a medical emergency, job loss or family crisis can wipe out a savings or hinder the ability to earn. When this happens, it is understandable when someone in South Carolina fears for the protection of his or her investments, especially if it becomes prudent to file for Chapter 13 bankruptcy.
How does Chapter 13 affect South Carolina retirement investors?
Overcoming potential concerns about bankruptcy in South Carolina
Overwhelming personal debt can create various challenges in the life of an individual. Those in South Carolina who are facing the burdens of debt may wish to overcome their current predicament, but certain aspects of the process could be holding them back. When weighing bankruptcy as an option for relief, some may worry about the potential impact a similar circumstance might have on their credit.
Bridal gown chain files for Chapter 7 bankruptcy
Consumers are not the only ones who may be affected by financial difficulties. However, when a retailer suffers financial hardships the consequences may be far-reaching. The recent filing for Chapter 7 bankruptcy protection by Alfred Angelo Bridal has left many women in South Carolina and across the country wondering what to wear on their big day.
Risking foreclosure to pay other debts in South Carolina
After hearing the details of discipline and sacrifice some people make to become debt-free, those who struggle with debt may feel inspired to take their own drastic steps. However, this often means taking out a second mortgage to consolidate loans. Doing so may lead to foreclosure because it doesn't eliminate the problem; it just moves it to another creditor. South Carolina residents struggling with debt may consider alternative actions to save their homes.
When South Carolina credit card debt is out of hand
Most people have heard the advice that it is best to pay off any credit card balance monthly. However, for those who must use their cards regularly for household expenses or are maxed out because of an emergency, that may be an impossible task. Those in South Carolina dealing with multiple credit cards with high balances and outrageous interest may already know they are in trouble, but for those who are uncertain, financial advisors warn of these indicators.
